April 30 (Reuters) - Swiss bank UBS on

Wednesday posted better than expected first-quarter net profit,

helped by stronger earnings in trading driven by market

turbulence in the wake of U.S. tariff turmoil, which it said

could delay corporate deals.

Switzerland's biggest bank reported net profit attributable

to shareholders of $1.7 billion in the first quarter of 2025,

down from $1.8 billion a year earlier, but beating an average

estimate of $1.3 billion in a company-provided poll of analysts.

In its investment banking division, global markets enjoyed a

record quarter with revenues up 32% year-on-year, underpinned by

higher client activity in equities and foreign exchange, UBS

said.

The outlook was more muted, however, as the backdrop of

sweeping U.S. tariffs raised uncertainty. "The prospect of

higher tariffs on global trade presents a material risk to

global growth and inflation, clouding the interest rate

outlook," UBS said.

UBS expected net interest income in its global wealth

management business to decline sequentially by a

low-single-digit percentage in the second quarter of 2025 and

anticipated a similar decline in its Swiss business.

Continued market uncertainty could delay corporate deals,

the bank added.